Corporate Governance and Risk Management
It is public knowledge in NZ that Fletcher Construction has taken a large profit write down on two significant projects in Auckland and Christchurch to the...
Canadian Arm of U.K. Carillion Files for Creditor Protection
Carillion Canada has been granted protection from creditors by the Ontario Superior Court under the Companies' Creditors Arrangement Act.
Fletcher’s ‘Tough year’
Fletcher Building chairman Sir Ralph Norris has stopped short of accepting responsibility for losses in construction projects and says chief executive Mark Adamson was dumped after...
Fletcher Building Plunges
New Zealand shares fell on Thursday, dragged lower by Fletcher Building hitting a six-week low, as the company's board advised a second large earnings downgrade this...
CSR Shares Slide on Weak Aluminium Result
Shares in CSR have fallen sharply after earnings in the building products supplier's aluminium division took a fall.
Project Losses Hit Fletcher’s Earnings
Fletcher Building has sliced about 15 per cent from its annual earnings guidance after the prognosis for two major construction projects deteriorated, prompting an overhaul of...
Miners Look to Disguise Weak Earnings
A buoyant mining sector is expected to disguise soft half year earnings reports from many listed companies over the coming month, according to Bennelong Australian Equity...
HEB Construction Sinks into the Red
HEB Construction sank into the red last year after it wrote down the value of a major project by almost $31 million.
SNC-Lavalin Earnings Plummet
SNC-Lavalin says its earnings plummeted in the third quarter due to unfavourable conditions at two oil and gas projects in the Middle East that the engineering...
Fletcher Building Shares Hit 5-year low
Fletcher Building shares touched their lowest levels in more than five years on Wednesday after the company's first-half results, which were clouded by losses at its...
Downer Posts $11.1m Loss
Downer EDI has posted an $11.1 million first-half loss dragged down by a goodwill impairment on its mining operations, writedowns from its freight rail divestment and...
Formica May be Saleable Asset for Fletcher
Fletcher Building paid US$700 million to buy Formica Corp from private equity owners Cerberus Capital Management and Oaktree Capital Management in 2007.
Downer Flags $77m Goodwill Impairment Hit
Downer EDI has flagged a goodwill impairment charge of $77 million on its mining operations after failing to renew two material contracts and delays in securing...
Sydney Housing Market Causing Hurt
McGrath has had almost a third wiped off its market value after the real estate agent downgraded its earnings outlook, citing a declining Sydney housing market.
Lend Lease Full Year Profit Down 25%, Despite Record Pipeline of Projects
Global property developer Lend Lease's development pipeline has hit a record of nearly $45 billion thanks to new projects in Asia and the Americas.
NZ: Precinct Properties Expects Earnings Drop
Precinct Properties New Zealand expects earnings per share to fall this year and dividends to remain unchanged as it focuses on development after completing its asset...